Pay Rises Between 2.5-4.5% Needed For 2022
One of the country’s leading think-tanks is encouraging trade unions to seek pay rises of between 2.5 and 4.5 percent next year.
The recommendation from the Nevin Institute and ICTU comes as the Department of Finance forecasts inflation of 3.5 percent over the next 12 months.
Strong economic growth’s expected in 2022 with personal consumption expected to grow as household savings are released into the economy.
Dr. Tom McDonnell of the Nevin Institute, says pay increases of less than 2.5 per cent will amount to a pay cut.